Brookfield (NYSE:BN) Reaches New 52-Week Low – What’s Next?

Brookfield Corporation (NYSE:BN)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $37.02 and last traded at $37.1150, with a volume of 3765536 shares traded. The stock had previously closed at $37.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD raised their price target on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Scotiabank reissued an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Price Performance

The firm has a 50-day simple moving average of $41.81 and a 200-day simple moving average of $42.91. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The firm has a market capitalization of $91.22 billion, a PE ratio of 67.65 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, equities analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 14th. Brookfield’s dividend payout ratio is currently 50.91%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors have recently bought and sold shares of BN. Wellington Altus USA Inc. grew its position in shares of Brookfield by 34.1% during the second quarter. Wellington Altus USA Inc. now owns 9,018 shares of the company’s stock worth $392,000 after purchasing an additional 2,293 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Brookfield by 388.8% in the second quarter. Engineers Gate Manager LP now owns 42,209 shares of the company’s stock valued at $1,798,000 after purchasing an additional 33,573 shares in the last quarter. Cidel Asset Management Inc. raised its stake in Brookfield by 119.5% during the second quarter. Cidel Asset Management Inc. now owns 13,756 shares of the company’s stock valued at $587,000 after purchasing an additional 7,489 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Brookfield by 6.4% during the second quarter. Integrated Wealth Concepts LLC now owns 38,902 shares of the company’s stock valued at $1,657,000 after purchasing an additional 2,333 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its position in shares of Brookfield by 3.0% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 466,698 shares of the company’s stock valued at $19,877,000 after buying an additional 13,401 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.